How to manage properties, be a real property manager, agency and in-house real estate manager, property management

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PRODIGYŽ means Professional	In many jurisdictions, real estate brokerage or property agency is regulated industry and every agent has to be licensed to trade in real estate. However, property management is somehow a grey area and many countries do not require property manager to be licensed. Moreover, real estate agents can also be property managers with the same license they have. It is therefore worth to consider to be a property manager if you are already a real estate agent. The major responsibilities of a property manager are: 1. Keeping the property leased 2. Collecting of property income 3. Paying property expenses 4. Maintaining the property There are mainly two types of property managers: Agency and in-house. In-house managers are employed by the corporate landlords to take care of their properties. Individual landlords, including condominium corporations, often hire agency management (contractors) to manage the buildings. You can be a manager under agency agreement or be an employee hired by a corporation. Most real estate agents will take the first choice as it is on top of their routine jobs. That's, extra income for you. As one of the duties of property managers is to keep the property lease; you may also be the leasing agent for that property you manage. Residential agents normally handle condominium units and they charge one month rent each year as their management fee. For commercial buildings and rental apartments, the fee is around 3% to 8% of the net income of the property, depends on the size of it.
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